76 FR 34590 — Bankruptcy Filing Date Treated as Plan Termination Date for Certain Purposes; Guaranteed Benefits; Allocation of Plan Assets; Pension Protection Act of 2006 PBGCFinal Rules (FR)Jun 14, 2011
…participant retires early, PBGC generally will not guarantee more than $1,000 per month. Before PPA 2006, the maximum guaranteeable benefit, the phase-in limit, and the accrued-at-normal limit were all calculated as of the termination date of a plan. Accordingly, before PPA 2006, a participant's guaranteed benefit woul…
78 FR 20039 — Reportable Events and Certain Other Notification Requirements PBGCProposed Rules (FR)Proposed Apr 3, 2013related by meaning
…d Instructions PBGC proposes to eliminate some of the documentation that must now be submitted with notices of two reportable events, but to require that filers submit with notices of most events some information not currently called for. Because the additional information to be submitted with notices is now typically …
76 FR 67105 — Cash Balance Plans; Benefit Determinations and Plan Valuations for Statutory Hybrid Plans; Pension Protection Act of 2006 PBGCProposed Rules (FR)Proposed Oct 31, 2011★ strong match
terest rate based on an index specified in IRS Notice 96-8, and that used either no plan margin or a plan margin that is constant.
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4. Under IRS Notice 96-8, plans that use the standard indices to determine their interest crediting rates were permitted to pay the hypothetical account balance, even if t…
80 FR 54980 — Reportable Events and Certain Other Notification Requirements PBGCFinal Rules (FR)Sep 11, 2015related by meaning
imilar settlement.
(a)
Reportable event.
Advance notice is required for an insolvency or similar settlement, as described in § 4043.35.
(b)
Extension. For a case or proceeding under § 4043.35(a)(1) or (2) that is not commenced by a member of the plan's controlled group, the notice date is extended to 10 days after the …
85 FR 6046 — Miscellaneous Corrections, Clarifications, and Improvements PBGCFinal Rules (FR)Feb 4, 2020related by meaning
…recent fiscal year(s) ending on or before the date the reportable event occurs.
(2)
Foreign entity. Notice under this section is waived if each person that liquidates under paragraph (a) of this section is a foreign entity other than a foreign parent.
(3)
Reporting under insolvency event.
Notice under this section is w…
76 FR 13304 — Benefits Payable in Terminated Single-Employer Plans; Limitations on Guaranteed Benefits PBGCProposed Rules (FR)Proposed Mar 11, 2011
…ate the new benefit or benefit increase is adopted or effective (whichever is later). On August 17, 2006, the Pension Protection Act of 2006, Public Law 109-280 (PPA 2006), was signed into law. Section 403 of PPA 2006 amended section 4022 of ERISA by adding a new section 4022(b)(8), which changes the start of the phase…
91 FR 45739 — Penalties for Failure To Provide Certain Notices or Other Material Information PBGCProposed Rules (FR)Proposed Jul 21, 2026related by meaning
…or participants, as applicable.
Not assessed for the period after distribution of assets has begun.
Notice of plan benefits Notice of intent to terminate
5. Annual Financial and Actuarial Information Reporting
79 FR 30459 — Multiemployer Plans; Valuation and Notice Requirements PBGCFinal Rules (FR)May 28, 2014related by meaning
…itation
7.
In 1998, PBGC amended its regulations to expand the applicability of the waiver of this notice under § 4231.8(f). Prior to that amendment, the requirement for 120 days' notice could be waived only if PBGC was satisfied that failure to complete the transaction in a shorter time would harm participants or ben…
84 FR 30666 — Miscellaneous Corrections, Clarifications, and Improvements PBGCProposed Rules (FR)Proposed Jun 27, 2019related by meaning
4043.30 and § 4043.35 to clarify that notice would be waived if notice has already been provided to PBGC for the same event under the former section. PBGC does not intend to compel public company sponsors to disclose liquidations on a Form 10 before notifying the public. Thus, the proposed rule includes an extension u…
83 FR 9716 — Owner-Participant Changes to Guaranteed Benefits and Asset Allocation PBGCProposed Rules (FR)Proposed Mar 7, 2018★ strong match
y category 4 (PC4). PPA 2006 changed the method for allocating assets within PC4 when there are benefits affected by the owner-participant limitation. PC4 includes three kinds of benefits: (1) Guaranteed benefits, other than employee contributions and benefits that could have been in pay status three or more years befo…
79 FR 25667 — Benefits Payable in Terminated Single-Employer Plans; Limitations on Guaranteed Benefits; Shutdown and Similar Benefits PBGCFinal Rules (FR)May 6, 2014
…aum,
Director, Pension Benefit Guaranty Corporation.
Footnotes
1.
The Technical Explanation of PPA 2006 prepared by the Joint Committee on Taxation Staff specifies that UCEBs include benefits payable with respect to “facility shutdowns or reductions in workforce.” Joint Committee on Taxation,
Technical Explanation of …
83 FR 32815 — Terminated and Insolvent Multiemployer Plans and Duties of Plan Sponsors PBGCProposed Rules (FR)Proposed Jul 16, 2018★ strong match
…e in pay status or reasonably expected to enter pay status during the insolvency year for which the notice is given, the plan sponsor may post the notice at participants' work sites or publish the notice in a union newsletter or in a newspaper of general circulation in the area or areas where participants reside. Notic…
90 FR 6894 — Miscellaneous Corrections, Clarifications, and Improvements PBGCProposed Rules (FR)Proposed Jan 21, 2025related by meaning
which permits plans with 100 or fewer participants to use valuation dates other than the first day of the plan year.
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23.
See, e.g., PBGC's proposed rule on Reportable Events and Certain Other Notification Requirements, 78 FR 20039, 20057 (Apr. 3, 2013) and DOL's final rule on Procedures Governing the…
88 FR 76660 — Technical Amendments: Special Financial Assistance Withdrawal Liability Condition; SECURE 2.0 Act; and Other Updates PBGCFinal Rules (FR)Nov 7, 2023related by meaning
…n
10.
Section 4006(a)(3)(F) of ERISA reads, “For each plan year beginning in a calendar year after 2006 and before 2013. . .” and section 4006(a)(3)(H) of ERISA refers to 4006(a)(3)(A)(iv), which says, “in the case of a multiemployer plan, for plan years beginning after December 31, 2005, and before January 1, 2013.”
…
80 FR 79687 — Partitions of Eligible Multiemployer Plans PBGCFinal Rules (FR)Dec 23, 2015related by meaning
re use of the model notices, but states that a properly completed model notice will be deemed to satisfy the notice requirements under the regulation. One commenter expressed concern that plan sponsors would be free to alter, amend, or even discard the text in the model notices in favor of their own, which, in the comm…
83 FR 49799 — Owner-Participant Changes to Guaranteed Benefits and Asset Allocation PBGCFinal Rules (FR)Oct 3, 2018
y category 4 (PC4). PPA 2006 changed the method for allocating assets within PC4 when there are benefits affected by the owner-participant limitation. PC4 includes three kinds of benefits: (1) Guaranteed benefits, other than employee contributions and benefits that could have been in pay status three or more years befo…
79 FR 4642 — Multiemployer Plans; Valuation and Notice Requirements PBGCProposed Rules (FR)Proposed Jan 29, 2014related by meaning
…ularly Title I, and there is little benefit to having such a long period to merely confirm that the notice requirements have been met. Thus, to reduce burden, PBGC is proposing to shorten the advance notice period to 45 days for transactions that do not involve a compliance determination under § 4231.9. PBGC's experien…
PBGCRegulationsJul 8, 2024
…s of participation in the plan. If no normal retirement age is specified in the plan, it is age 65. Notice of intent to terminate means the notice of a proposed termination of a single-employer plan, as required by section 4041(a)(2) of ERISA and § 4041.21 (in a standard termination) or § 4041.41 (in a distress termina…
PBGCRegulationsNov 2, 2018
…e amount of the estimated benefit under this section, the following rules apply:
(b)(1) (1) Non-PPA 2006 bankruptcy termination. In a non-PPA 2006 bankruptcy termination:
(b)(1)(i) (i) For benefits payable with respect to a participant who is in pay status on or before the proposed termination date, the plan administra…
PBGCRegulationsJan 1, 2017related by meaning
(c)(5)(ii) (ii) Provide the notice in that common non-English language to those affected parties literate only in that language.